President Javier Milei’s government was close to seeing Argentina log its lowest country-risk reading since taking office — a prerequisite for tapping international debt markets — but the latest U.S. data appears to have set those plans back once again.

On Friday, the Bureau of Labor Statistics released its monthly tally of new jobs added to the U.S. economy, popularly known as the jobs report. May saw 172,000 new positions created, more than double the market’s expectations. On top of that, April’s figures were revised upward: the original reading had been 115,000 — already above initial projections — but was bumped up to 179,000.

The data pointed to a significant recovery in the U.S. economy. Wall Street, however, took it badly because it gives the Federal Reserve room to keep interest rates steady through 2026, or even raise them further to fight inflation.

How does this affect Argentina?

That scenario would have negative consequences for many countries, Argentina included. Mariano Ortiz........

© Buenos Aires Herald